Avoiding potentially detrimental decisions in high-asset divorces

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On behalf of Rubinstein, Holz & King, P.A. posted in blog on Thursday, June 15, 2017.

There are countless reasons that can lead a couple to consider parting ways. Perhaps you and your spouse have reached an impasse, and the decision to divorce has moved from a discussion to a reality. Along with the emotional stress that can accompany such a difficult decision, the financial side of divorce can be intimidating and complex, especially for the wealthy.

The two of you might have accumulated a substantial amount of your wealth during marriage, or perhaps entered marriage believing you would be together forever, thus forgoing the idea of a prenuptial agreement. Without an agreement in place concerning property distribution, preparations for the subsequent process will likely be more important than ever.

Considerations regarding a high-asset divorce

Divorce will inherently have a significant impact on your future financial standing. Along with the numerous crucial aspects to consider during this period, there are also certain actions to avoid during divorce that could be detrimental in the long run, such as:

Failing to fully address finances: Believing that you have a grasp on the situation without putting in the work could lead to a devastating outcome, and seeking assistance in fully covering the financial side of divorce is advisable.

Expecting a favorable outcome in court: Forgoing negotiations in favor of a court ruling isn't always the best option. Every divorce is different, and considering all available options could be the best way to obtain the most favorable outcome possible.

Adhering to outside influence: While your family and closest friends may mean well, it might be more beneficial to seek advice from someone with extensive experience in the area.

Chances are, if you are facing the end of your marriage, you probably have enough stress on your plate as it is, and obtaining guidance on making informed decisions during this period might alleviate some of your worries and help prepare you for what comes next.

Advice and assistance moving forward

In equitable distribution states, such as Florida, the division of marital property must be fair, but doesn't have to be equal. With so many crucial aspects to consider and so much at stake, you are likely feeling somewhat overwhelmed, and perhaps uncertain, about how to proceed.

You could speak with an attorney with experience in handling high-asset divorces. A family law attorney can address your financial concerns and needs and assist you in covering every aspect of the process, which could prove exceedingly beneficial to obtaining the most favorable outcome possible during divorce proceedings.

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Rubinstein, Holz & King, P.A., based in Fort Myers, Florida, provides skilled family law representation to clients in Fort Myers, North Fort Myers and Cape Coral, and surrounding areas of Lee County, Charlotte County, Hendry County and Glades County.